Three Facts Small Business Owners Need to Know About Black Friday

Black Friday doesn't have to be overwhelming!! If you're planning to launch a Black Friday deal this holiday season, we strongly recommend taking a research-based approach when preparing your marketing strategy. Here's a bit of helpful data to help you prepare for launching this year's Black Friday campaign. We hope this helps!

The Early Bird Gets the Biggest Worms!

Last year, retailers rolled out Black Friday sales weeks early in order to make up for in-store sales that were lost due to the pandemic. 52% of shoppers took advantage of early deals, and, of that group, 38% said they made all holiday purchases in the week leading up to Thanksgiving. This information, combined with your customer's shopping patterns, can help you to determine how early to start promoting your brand's Black Friday deals.

The Average Shopper Spends Hundreds

During the five-day Thanksgiving weekend in 2020, shoppers spent an average of $311.75 on holiday purchases during Black Friday and Cyber Monday season. This information, compared to the average spending limit of your customers, can help you to decide on a realistic price range for your brand's Black Friday deals.

Cyber Monday is Just as Important!

Many small businesses make the mistake of over-preparing for Black Friday and neglecting Cyber Monday. In 2020, Cyber Monday was the top day consumers planned to shop, with 30% saying they planned to shop Cyber Monday sales, compared to 24% saying they planned to shop on Black Friday. This data, compared to shopping patterns from your last Black Friday sale or your most popular discount offer, can help you to maximize your Cyber Monday earnings.

Planning an effective Black Friday campaign requires research and strategy. Be sure to consider data from previous holiday shopping seasons so that you can reach your profit goals in the upcoming sales frenzy.